Amarin (AMRN) Given a $10.00 Price Target by Cantor Fitzgerald Analysts
Cantor Fitzgerald set a $10.00 price target on Amarin (NASDAQ:AMRN) in a research report sent to investors on Thursday. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
“AMRN provided preliminary 2017 results and its 2018 outlook. The guidance underscores our view that AMRN will be one of the top performing stocks in our coverage universe this year. Please see our recent note for more details.”,” Cantor Fitzgerald’s analyst wrote.
A number of other analysts also recently issued reports on AMRN. Zacks Investment Research raised Amarin from a sell rating to a hold rating in a research note on Tuesday, January 2nd. ValuEngine raised Amarin from a sell rating to a hold rating in a research note on Wednesday, December 20th. BidaskClub raised Amarin from a hold rating to a buy rating in a research note on Friday, December 29th. HC Wainwright reaffirmed a buy rating and issued a $10.00 price objective on shares of Amarin in a research note on Thursday, November 2nd. Finally, Jefferies Group reaffirmed a buy rating on shares of Amarin in a research note on Wednesday, October 11th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $7.75.
Shares of Amarin (NASDAQ AMRN) traded up $0.18 on Thursday, reaching $4.37. The company had a trading volume of 2,119,000 shares, compared to its average volume of 1,616,750. The company has a market cap of $1,180.00, a P/E ratio of -16.19 and a beta of 0.62. Amarin has a 52 week low of $2.81 and a 52 week high of $4.47. The company has a debt-to-equity ratio of -1.48, a current ratio of 1.63 and a quick ratio of 1.32.
Amarin (NASDAQ:AMRN) last released its quarterly earnings data on Wednesday, November 1st. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.01. The firm had revenue of $47.10 million during the quarter, compared to the consensus estimate of $45.85 million. During the same period in the previous year, the firm earned ($0.08) EPS. The business’s revenue was up 45.4% compared to the same quarter last year. equities research analysts predict that Amarin will post -0.22 EPS for the current year.
In related news, insider John F. Thero bought 10,000 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were purchased at an average price of $3.24 per share, with a total value of $32,400.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Steven B. Ketchum sold 128,257 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $4.25, for a total value of $545,092.25. The disclosure for this sale can be found here. Insiders own 3.72% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Neuberger Berman Group LLC bought a new position in shares of Amarin during the 3rd quarter valued at approximately $350,000. Alkeon Capital Management LLC bought a new position in shares of Amarin during the 3rd quarter valued at approximately $7,875,000. Cubist Systematic Strategies LLC bought a new position in shares of Amarin during the 3rd quarter valued at approximately $226,000. University of Notre Dame DU Lac bought a new position in shares of Amarin during the 3rd quarter valued at approximately $2,814,000. Finally, TD Asset Management Inc. bought a new position in shares of Amarin during the 3rd quarter valued at approximately $285,000. 40.12% of the stock is currently owned by hedge funds and other institutional investors.
Amarin Company Profile
Amarin Corporation plc is a biopharmaceutical company with operations in lipid science focused on the commercialization and development of therapeutics for cardiovascular health. The Company operates through the development and commercialization of Vascepa segment. The Company’s lead product, Vascepa (icosapent ethyl) capsule, is approved by the United States Food and Drug Administration (FDA) for use as an adjunct to diet to reduce triglyceride levels in adult patients with severe hypertriglyceridemia.
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